KBC Securities finished takeover of "Hipobroker"

KBC Securities finished takeover of Serbian broker company "Hipobroker" today (July 11, 2007). Having obtained consent from the Securities Commission and Antimonopoly Commission, KBC Securities is now the only owner of that company.

Hipobroker is small broker company with market share of 0.68% (1.78% in size of transactions). It has three business units that carry out activities related to sale of stocks of companies on the market in scope of privatization. Just like the law stipulates, clients of the broker must have bank accounts, and Hipobroker closely cooperates with A bank, which has been recently took over by KBC.

On April 17, 2007, KBC Securities announced takeover of broker company "Senzal" and consulting company "Bastion". Agreements on takeover should be approved by authorized institutions and regulatory bodies in Serbia. Intention of KBC Securities is to merge "Hipobroker" and Senzal into KBC Securities Serbia.